Page 11 - Us Iran Tensions

IEA urges work-from-home, less air travel to ease oil shock amid Iran war

The International Energy Agency (IEA) has advocated a set of immediate demand-side measures, including work-from-home, lower speed limits, and reduced air travel to cushion the impact of a historic global oil supply shock triggered by disruptions in the Middle East. Oil prices spiked to over USD 100 per barrel after the US and Israel attacked Iran and Tehran's sweeping retaliatory actions. For India, which imports about 88 per cent of its crude oil needs, the surge in global prices poses a significant macroeconomic risk -- widening the current account deficit, pressuring the rupee, and increasing fuel costs for households and businesses. While petrol and diesel prices have so far not been increased, cooking gas LPG rates have been hiked by Rs 60 per cylinder. "The conflict in the Middle East has created the largest supply disruption in the history of the global oil market, due to the near halt in shipping traffic through the Strait of Hormuz," IEA said in a new report. Some 15 mill

US begins Strait of Hormuz reopening push with war planes, but risks remain

US and allies have reportedly deployed A-10 jets and Apache helicopters to target Iranian boats, drones and missiles, but mines and hidden assets mean reopening Hormuz could still take weeks

Iran's enemies' security must be taken away, says Mojtaba Khamenei

Mojtaba Khamenei said Iran's enemies must lose their security and ruled out ceasefire talks, while state media shared a video of him teaching amid questions over his whereabouts

Donald Trump's Iran war shows the limits of his strike-first strategy

Trump's approach rejects many of the tenets of the American way of war that emerged after the Cold War

Donald Trump's Iran war shows the limits of his strike-first strategy

Trump's approach rejects many of the tenets of the American way of war that emerged after the Cold War

Sri Lanka refused US request to land warplanes, says President Dissanayake

Sri Lanka refused permission for the US to land two of its warplanes in the island's southeast Mattala International Airport in early March, President Anura Kumara Dissanayake told Parliament here on Friday. Dissanayake said that two US warplanes from Djibouti asked for permission to come to Sri Lanka on March 4 and 8. Both requests were rejected, he said. "We want to maintain our neutrality despite many pressures. We won't give in. The Middle East war poses challenges but we will do everything possible to remain neutral," he said. "They wanted to bring in two warplanes armed with eight anti-ship missiles from base in Djibouti to the Mattala International Airport and we said no," the Sri Lankan president said. Dissanayake's statement comes a day after his meeting with US Special Envoy for South and Central Asia Sergio Gor. The two leaders discussed US efforts to safeguard vital sea lanes and secure ports, reinforce mutually beneficial trade and commercial ties, and advance a free,

Sri Lanka refused US request to land warplanes, says President Dissanayake

Sri Lanka refused permission for the US to land two of its warplanes in the island's southeast Mattala International Airport in early March, President Anura Kumara Dissanayake told Parliament here on Friday. Dissanayake said that two US warplanes from Djibouti asked for permission to come to Sri Lanka on March 4 and 8. Both requests were rejected, he said. "We want to maintain our neutrality despite many pressures. We won't give in. The Middle East war poses challenges but we will do everything possible to remain neutral," he said. "They wanted to bring in two warplanes armed with eight anti-ship missiles from base in Djibouti to the Mattala International Airport and we said no," the Sri Lankan president said. Dissanayake's statement comes a day after his meeting with US Special Envoy for South and Central Asia Sergio Gor. The two leaders discussed US efforts to safeguard vital sea lanes and secure ports, reinforce mutually beneficial trade and commercial ties, and advance a free,

Tyre stocks skid up to 18% in March; can slip another 24%, cautions analyst

Apollo Tyres, CEAT, Balkrishna Industries share prices could fall up to 24% from current levels, cautions technical analysts Kunal Shah of Mirae Asset Sharekhan.

Iran conflict threatens fresh food-price surge across developing world

Developing countries were gaining after pandemic and Ukraine shocks, but the Iran conflict now threatens food, fuel and finance gains and could leave households struggling

Iran conflict threatens fresh food-price surge across developing world

Developing countries were gaining after pandemic and Ukraine shocks, but the Iran conflict now threatens food, fuel and finance gains and could leave households struggling

'Grave miscalculation': Why Oman flagged US foreign policy misstep in Iran

Oman's foreign minister, Badr Albusaidi, has said that the United States allowed itself to be drawn into a war that could have been avoided through diplomacy

Drugmakers seek price cap as input costs surge amid West Asia conflict

Small pharma firms have flagged a steep surge in raw material and packaging costs amid global disruptions, warning of supply risks and seeking price controls

Qatar gas strike impact; Petronet LNG, Gail could dip another 10%: Analysts

Petronet LNG has reversed its trend, surrendering all the gains accumulated earlier this year, says research analyst Ajit Mishra of Religare.

Here's why strike on Qatar's Ras Laffan could roil gas markets for years

Missile strikes on Qatar's Ras Laffan LNG hub have hit global gas supply, pushed up prices and may take up to five years to repair, raising fears of a prolonged energy crisis worldwide

Iranian drones hit Kuwait's Mina Al-Ahmadi refinery again, starting fire

Kuwait said Friday its Mina Al-Ahmadi oil refinery again came under attack by Iranian drones, which sparked a fire at several of its units. The refinery had been hit Thursday, sparking fires. Kuwait said firefighters on Friday were trying to control the blazes and there were no immediate injuries from the attack. The Iranian attack came as Kuwait marked Eid al-Fitr, the celebration marking the end of the holy Muslim fasting month of Ramadan. The attack Friday comes as Iran increasingly targets energy sites in Gulf Arab states after Israel on Wednesday bombed Iran's massive South Pars offshore natural gas field in the Persian Gulf.

Iranian drones hit Kuwait's Mina Al-Ahmadi refinery again, starting fire

Kuwait said Friday its Mina Al-Ahmadi oil refinery again came under attack by Iranian drones, which sparked a fire at several of its units. The refinery had been hit Thursday, sparking fires. Kuwait said firefighters on Friday were trying to control the blazes and there were no immediate injuries from the attack. The Iranian attack came as Kuwait marked Eid al-Fitr, the celebration marking the end of the holy Muslim fasting month of Ramadan. The attack Friday comes as Iran increasingly targets energy sites in Gulf Arab states after Israel on Wednesday bombed Iran's massive South Pars offshore natural gas field in the Persian Gulf.

Energy fallout from Iran war signals a wake-up call for renewable energy

The war in Iran is exposing the world's reliance on fragile fossil fuel routes, lending urgency to calls for hastening the shift to renewable energy. Fighting has all but halted oil exports through the Strait of Hormuz, the narrow waterway that carries about a fifth of the world's oil and liquefied natural gas, or LNG. The disruption has jolted energy markets, pushing up prices and straining import-dependent economies. Asia, where most of the oil was headed, has been hit hardest, but the disruptions also are a strain for Europe, where policymakers are looking for ways to cut energy demand, and for Africa, which is bracing for rising fuel costs and inflation. Unlike during previous oil shocks, renewable power is now competitive with fossil fuels in many places. More than 90% of new renewable power projects worldwide in 2024 were cheaper than fossil-fuel alternatives, according to the International Renewable Energy Agency. Oil is used in many industries beyond generating electricity,

Energy fallout from Iran war signals a wake-up call for renewable energy

The war in Iran is exposing the world's reliance on fragile fossil fuel routes, lending urgency to calls for hastening the shift to renewable energy. Fighting has all but halted oil exports through the Strait of Hormuz, the narrow waterway that carries about a fifth of the world's oil and liquefied natural gas, or LNG. The disruption has jolted energy markets, pushing up prices and straining import-dependent economies. Asia, where most of the oil was headed, has been hit hardest, but the disruptions also are a strain for Europe, where policymakers are looking for ways to cut energy demand, and for Africa, which is bracing for rising fuel costs and inflation. Unlike during previous oil shocks, renewable power is now competitive with fossil fuels in many places. More than 90% of new renewable power projects worldwide in 2024 were cheaper than fossil-fuel alternatives, according to the International Renewable Energy Agency. Oil is used in many industries beyond generating electricity,

Rupee breaches 93/$ for first time, at record low of 93.49 amid free fall

The rupee fell 19 paise to its record intra-day low of 93.08 against the US dollar in early trade on Friday as the greenback strengthened further and FII outflows continued unabated amid the ongoing West Asia conflict. Elevated global crude oil prices put further pressure on the local unit, while a positive opening at the domestic equity markets cushioned against a sharper fall, according to forex traders. At the interbank foreign exchange, the local unit opened at 92.92 against the greenback before breaching the 93-mark for the first time to trade at 93.08, down 19 paise from its previous close. The rupee slumped 49 paise to close at a record low of 92.89 against the US dollar on Wednesday. Forex markets were closed on Thursday on account of Gudhi Padwa. "The rupee looks vulnerable with the RBI the only one protecting it from further fall by selling dollars. FPIs were sellers on Thursday when Sensex and Nifty fell to a 21-month low," Anil Kumar Bhansali, Head of Treasury and ...

Iran claims 'world's first' strike on US F-35, jet makes emergency landing

CNN report from the incident, citing US defence officials, noted that a US F-35 fighter jet made an emergency landing at a US air base in West Asia after it was struck by Iranian fire